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Ocean Protocol unlocks the value of data. Data owners and consumers are now making use of Ocean Market app to publish, discover, and consume data in a secure, privacy-preserving fashion. OCEAN holders stake liquidity to data pools.
Developers use Ocean libraries to build their own data wallets, data marketplaces, and more.
Ocean datatokens wrap data services as industry-standard ERC20 tokens. This enables data wallets, data exchanges, and data co-ops by leveraging crypto wallets, exchanges, and other decentralized finance (DeFi) tools.
Also, Ocean makes it easy to publish data services (deploy and mint ERC20 datatokens), and to consume data services (spend datatokens). Crypto wallets, exchanges, and DAOs become *data* wallets, exchanges, and DAOs.
Ocean Protocol: Ocean has entered into a strategic partnership with fractalprtcl, an open-source zero-margin protocol for data exchange. The partnership will focus on kickstarting identity verification in the Ocean Market.
By combining Fractal’s Protocol-based Data Provisioning Incentivization with Ocean’s privacy-preserving Compute-to-Data feature and Ocean Market for data, users can take ownership of their data and monetize it themselves.
Use case: Fractal will use Ocean technology to build a Facebook Data Exfiltrator 3000 where users will be able to publish their Facebook data in the Ocean Market and monetize it in a privacy-preserving set-up.
Fractal will also provide additional identity guarantees on the Ocean Market. Through Fractal’s identity verification feature, data publishers on Ocean Market can use Fractal to upload their credentials to the marketplace during the publishing process.
Ocean founder BrucePon shared his thoughts on the partnership. “I’m glad that we can now work together on integrating our complementary technologies to unlock data and give people the option to monetize it themselves”.
Julian Leitloff, CEO and founder of Fractal expressed, “What we build now might be a big step towards a new data economy, but for us, it is only the beginning”.
Ocean market claims to be the data marketplace with blockchain super powers. Users use Ocean Market to publish data, stake on data (curate), and buy data. They also earn by selling, staking, or running their own fork of Ocean Market. Data has automatic price discovery. Data is published as interoperable ERC20 datatokens. Compute-to-data enables private data to be bought & sold. It’s a decentralized exchange (DEX), tuned for data.
Also, Publishing a dataset amounts to an Initial Data Offering (IDO). It can be data that the user has rights to, or open data with value-added. Upon publishing a dataset, it becomes a data asset with its own ERC20 data token. Anyone can stake OCEAN in a datatoken AMM pool.
